What is smart contract?

First of all, please do not sends funds to your Gatecoin address using a smart contract. Any funds sent could potentially be lost. Please also note that some exchanges such as Bitstamp use smart contracts for ETH withdrawals and these will result in the same issue. Therefore, at the moment please do not send us ETH transactions from Bitstamp.

What is a smart contract?

Blockchains such as the ethereum blockchain utilized and support the use of smart contracts. A smart contract is pretty much exactly what you think it would be, they are auto-executing programmed agreements that are recorded on the ethereum blockchain. Because smart contracts are different from a standard cryptocurrency transaction some wallet providers do not support smart contract transactions. Even wallets that support ETH may not be able to accept ETH from a smart contract.

If you send a smart contract transaction to a wallet that cannot accept it, the cryptocurrency may never arrive or the wallet provider may have to manually approve the transaction. Gatecoin is usually able to approve the transaction manually but this takes time and is subject to delays. If retrievable, it will take approximately one week for your funds to be credited to your account as this is handled by our technical support and they are very busy.

In case you made a mistake please fill in thesupport form on the Gatecoin website. Please provide the following information: transaction id, how much in ETH was sent, when it was sent. Please type out this information, including the transaction ID. We do not follow up cases with print screen or screen shot.

Therefore, it is important that you check with your wallet provider prior to placing an ethereum order to your Gatecoin account. Gatecoin is looking to support smart contract addresses in the future.